Â
>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<
Â
Â
Two of China's biggest cities - Shanghai and Shenzhen - announced tougher regulations on home purchases as their housing markets heat up.'
The Shanghai housing authority said on Thursday that it will guide commercial banks to strictly control the growth pace of individual mortgages, prevent rushed lending, and prevent the funnelling of other loans such as consumer loans and business loans into the real estate market.
The authority said banks should further strengthen management of home mortgages, closely check sources of home buyers' downpayment and their debt to income ratio, said the authority.
The . . .
Sign In or Subscribe To Get Full Access.
For only $0.5 per day, you get up-to-the-minute updates on the Chinese economy and financial markets throughout every trading day, with data and details you don't see elsewhere.
Don't miss limited-time welcome offer!
Sign Up For Free Weekly China Market Highlights HERE!Â